Majali family fights for company
The executors of the estate of ANC benefactor Sandile Majali want a court to set aside a decision to award his company ownership, worth R500 million, to a former business partner.
Business Day reported that Majali’s family had approached the South Gauteng High Court to set aside an arbitrator’s decision to award ownership of Siyanda Chrome Investments to Lindani Mthwa.
According to the newspaper, Majali and Mthwa had each claimed to hold all shares in the company. However, in October 2010, an arbitrator decided, without hearing representations by Majali, that Mthwa owned 100% of the company.
Majali brought an application to set aside the award, but died, in December 2010, before the application could be heard.
Business Day reported that Majali’s family argued they were entitled to dividends, amounting to millions of rand, from Siyanda Chrome Investments.
Dumisa Ntsebeza, SC for the executors, told the court it could intervene when an arbitrator had committed gross irregularity, exceeded his powers or when an award was improperly obtained.
He said the arbitrator had not given Majali any written notice explaining his absence from the proceedings.